AMORTIZE

AMORT'IZE, verb transitive [Latin mors, death. See Mortmain.]In English law, to alienate in mortmain, that is, to sell to a corporation, sole or aggregate, ecclesiastical or temporal, and their successors. This was considered as selling to dead hands. This cannot be done without the kings license. [See Mortmain.]

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A‐mor″tize (�), v. t. [[OE. amortisen, LL. amortisare, admortizare, F. amortir to sell in mortmain, to extinguish; L. ad + mors death. See Mortmain]]. 1. 1. To make as if dead; to destroy. Chaucer.
2. 2. (Law) To alienate in mortmain, that is, to convey to a corporation. See Mortmain.
3. 3. To clear off or extinguish, as a debt, usually by means of a sinking fund.